Steel Partners (NYSE:SPLP) Research Coverage Started at StockNews.com

Equities researchers at StockNews.com initiated coverage on shares of Steel Partners (NYSE:SPLPGet Free Report) in a note issued to investors on Thursday. The brokerage set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Price Performance

Shares of SPLP opened at $35.75 on Thursday. Steel Partners has a fifty-two week low of $33.12 and a fifty-two week high of $47.96. The company has a market capitalization of $728.94 million, a price-to-earnings ratio of 5.23 and a beta of 1.36. The firm has a 50-day simple moving average of $37.67 and a 200-day simple moving average of $10,138.50. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.13 and a current ratio of 1.24.

Steel Partners (NYSE:SPLPGet Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter. The firm had revenue of $476.35 million during the quarter. Steel Partners had a net margin of 8.27% and a return on equity of 16.61%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Steel Partners stock. Teton Advisors Inc. lifted its holdings in shares of Steel Partners Holdings L.P. (NYSE:SPLPFree Report) by 22.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,500 shares of the conglomerate’s stock after purchasing an additional 2,300 shares during the period. Teton Advisors Inc. owned about 0.06% of Steel Partners worth $496,000 as of its most recent SEC filing. Institutional investors and hedge funds own 50.75% of the company’s stock.

About Steel Partners

(Get Free Report)

Steel Partners Holdings L.P., together with its subsidiaries, engages in industrial products, energy, banking, defense, supply chain management, logistics, and youth sports businesses worldwide. It operates through Diversified Industrial, Energy, Financial Services, and Supply Chain segments. The company fabricates precious metals and alloys into brazing alloys; manufactures and sells seamless stainless steel tubing coils; fasteners, adhesives, and fastening systems for the commercial low slope roofing industry, as well as specialty fasteners for the building products industry; and woven substrates of fiberglass, quartz, carbon, and aramid materials for specialty applications.

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